Develop your financial knowledge

Foreign Exchange Management Assessment Program (FXMAP)

This Program is designed to help SMEs develop financial resilience and better manage their financial resources for sustainable growth

Upon completion of FXMAP, participants should have gained the capability to:

Identify and quantify the specific currency exposures to their businesses.
Create their own Foreign Exchange Risk Management Policy specific to their businesses.
Evaluate the various hedging products and service providers, thereby aligning the selection of tools to the implementation of their Foreign Exchange Risk Management.

Eligibility criteria

Company must be registered and operating in Singapore, and have at least 30% local shareholding
Company group annual sales of no more than SGD100 million OR company group employment size of not more than 200 workers.

From now till 10 November 2017, SMEs in Singapore that are eligible to take part in the FXMAP can apply for SPRING’s Capability Development Grant (CDG) which may support up to 70% of qualifying project costs*

Western Union Business Solutions is a business unit of The Western Union Company. Depending on the nature and scope of the services, services in Singapore are provided by Western Union Business Solutions (Singapore) Pte Ltd and/or WUBS Financial Services (Singapore) Pte Ltd.

* Transaction fee-free EDGE Network Payment services are available between fully accredited WUBS customers that have registered to use the WU® EDGE platform and are authorised by a WUBS affiliate to access services in USA, Canada, United Kingdom, France, Italy, Austria, Germany, Poland, Czech Republic, Singapore, Hong Kong, Australia and New Zealand. WUBS will apply a foreign currency exchange rate, which includes a margin set by WUBS, whenever a transaction includes a currency conversion. Transaction fees may also apply to transactions other than EDGE Network Payment services.

**WUBS holding balance facility enables you to temporarily hold amounts that you have acquired to make or receive a payment for up to 90 days. Amounts held in a holding balance do not earn interest.